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20121027
20121104
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's response to a hurricane. he was in two weeks after hurricane katrina. are you confident that fema is prepared given the sheer size of this storm, almost a thousand miles in dimer. >> it is a huge storm and the impact will on the storm is so big, it is impacti sever states from dall the way up to maine at the same time. but i am rae very comfortable. we have a great administrator running the organization. he gets it, he's from florida, a good emergency manager. doesn't run around with his hair on fire. so i'm confident they will do a good job. >> on a conference call today n fact, your successor, mr. fugate said the disaster fund at fema has a billion dollars in t more or less. is that enough for this kind of response that will be necessary? >> probably at the end of the day the expenses will be more than that. but yes, it's enough for now. what the president has de, he psident has done a prelandfa declaration of all of the states up the east coast. so that allows the administrator to move supplies in now, move people in now, rescue teams in, and to get ready, work with those emerg
costs will surpass those from hurricanes irene and katrina. although there are countless businesses hurt, others could see a boost. erika miller reports. >> reporter: when you consider the massive amounts of flooding, downed trees, and damage to transportation networks, it could take days-- if not weeks, to tally up the financial costs from the storm. but already there are predictions sandy will be the most expensive clean-up in u.s. history. the most serious damage appears to be caused by flooding along the east coast. according to economic tracking firm i.h.s. global insight, property damage will likely surpass $20 billion. add to that as much as $30 billion in lost business, and the total financial toll could end up being close to $50 billion. hotels, stores, airlines, and restaurants have lost business they wot get back. insurance companies will have to make big payouts, which will likely mean higher insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global p
through like katrina or like irene? >> every storm is different, as i said. we have their own hazards. irene was a storm that moved parallel to the coast with most of the heaviest weather to the right so there were a lot of folks very close to the center in new jersey, for example, that didn't really know that there was a lot going on. this storm instead, first of all, it's much larger than irene. it's coming directly at the coast instead of parallelling it. the effects are spanning hundreds and hundreds of miles, much more so than irene. >> ifill: this storis hovering withotsf rain centered over one area. how many days do you expect we'll be coping with the fallout from all of that? >> well, i think that it's going to take until wednesday before conditions really significantly improve so that people can get back and start looking at what happened. tomorrow it's still going to be a bad day because the system is going to slow down once it gets towards pennsylvania. it will weaken, but it's going to take a long time for this system to wind down. >> ifill: james franklin of the national
in the wake of a major disaster. so it's probably no surprise that back in 2005, hurricanes katrina and rita drained the fund and plunged the program $18 billion into debt. it's debt congress planned to forgive, but hasn't yet. that leaves the program on poor financial footing with only about $4 billion worth of funds available for claims related to sandy. >> from what i've seen, this could be a $5 billion to $10 billion flooding event, so more than likely, the program will have to go to congress to get additional borrowing authority. >> reporter: former program administrator david maurstad says the program will probably ve to turno coress for help paying claims. >> it's still an obligation that our government said we're going to have this program-- "you buy a policy, we're going to take care of it." and i have every confidence to believe that that will happen. there will be some mechanics that will be involved, possibly, depending on how large of an event this turns out to be. >> reporter: what could be a bigger problem are the number of people affected who don't have flood insurance. gener
with katrina. we learned with irene. we started with much larger cash supplies than we normally would have, and we've been able to manage that cash supply at a much higher level than we have right now than we've ever had before. >> tom: have you been able to replenish the cash supplies in those a.t.m. machines in a timely manner? >> we have been able to replenish. obviously, there will be an a.t.m. here or there that has a problem, that runs out of cash. there are lines at many of these a.t.m.s in the difficult areas, but even as the longest time, it's within the same day it's replenished. we do have story where's we move cash from one branch to the other to help the branches keep cash. we've beefed up the security force toking in throughout the tristate area. >> tom: frank, let me pull back a little bit from the day-to-day operations and i know you're focused on that. you have waived some bank fees for those affected customers in the region. is that going to be much of an impact when you talk about the fourth quarter business? >> i don't see this impact our fourth quarter business by wavi
. disasters which happened to fall into the middle of political moments. katrina. the 2008 economic collapse. the aurora shootings earlier this year. the hurricane andrew in 1992. that fell in august. how easy is it for a candidate or a politician of any stripe to mishandle that kind of situation? >> i think we've seen in the past how easy it is to mishandle and as a result we're seeing a much better handling of it right now for president obama and for mittomney and i gener from some of the other politicians we've seen on tv and other places. i think this is one of the few situations, unfortunately, where basic human decency and good politics dove tail. the best thing you can do as a political candidate right now is to appear to care more about what's going on on the ground with people who are suffering than you do about your own election. ideally that's motivated by a real feeling there rather than simply showing it but certainly politicians have learnd lessons from past generations who have seemed insensitive. >> ifill: it's fair to say a lot of thought goes into how to walk that tight rop
. look, people warned katrina that new orleans needed to be able to withstand a category 5. they didn't design the levees to withstand it and we see what happed. nowe s theame thiith sandy. i think the hope has to be that sandy isn't short for cassandra and that it's another warning that we ignore. absolutely people now have seen that you can in fact have the worst-case scenario, which was a flooding of the lower manhattan and i think any city along the eastern sea board has ask-to-ask themselves what would happen if hurricane sandy hit us? >> suarez: well, how do we price risk, then, into the decisions we make both publicly and privately. should there with b places in new jersey,n new york, where surace companies s "we don't want to pay for you to rebuild right there"? where the cost of doing so becomes higher and maybe prohibitive for some people? >> there probably should be, yes, because the alternative is we keep enticing people to place more and more of their value, more and more of their wealth in fragile co-systems or fragile areas of the environment if we don't give them the p
from a katrina, from 9/11 and this happens and it reinforces. guess what, where were those people on 9/11 they were at the tip of manhattan and the same area that's getting hit so hard right now. there are other areas, i came into cbs this morning somebody said i'm up in rockland county, nobody's telling that story. nasa county out on the island, there are places our cameras aren't getting to. so the devastation. >> rose: because there are so many stories. >> that's right. >> rose: thank you very much. back in moment. stay with us. >> rose: al -- al -- al has not poire -- the government is due to change before the year is out with enrique pena becoming president in december. but the challenges facing the country remain the war on the drug cartels in relation with the united states will remain key areas of focus. i'm pleased to have alejandro poir at this table. welcome. >> thank you very much charlie. >> rose: i interviewed calderon, the president for another month i guess, month and-a-half here when he was in town for the clinton global initiative. i raised these questions wit
brown at the time of katrina. barack obama rebuilt it. and we are seeing it it work and respond. >> woodruff: do you think the storm could be making that much of a difference. >> i think the perception and you see activity and you see the chris christie thing. people are saying why is christie doing this, for his own mattal ambitions. >> i don't think there is anything like that when you are the governor of a state, a state you love that is in your heart and soul you feel an intense sense of stewardship. and when it gets wallopped by the storm the poll particulars seems irrelevant at this point. and as christie said, i don't care about the politics. if he is going to help me with my state, he is going to help the people of my state, then i'm grateful and i will work with him. so i think it is as simple as that. and i think he has been perfectly willing to hold the view that he's not a good steward of the economy, not good on budget negotiations but he's good on this. and we worked together on this. i don't think that is politically inconsistent. but nonetheless a a-- about where
Search Results 0 to 12 of about 13 (some duplicates have been removed)

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